VanEck’s Head of Digital Asset Research Matthew Sigel reiterated on Thursday his $100,000 Bitcoin (CRYPTO: BTC) price target for 2027, adding that $500,000 by 2029 is also plausible if the cycle “plays out as usual.”
Sigel Says BTC Surge Tied to Treasury Moves
During an interview with CNBC, Sigel said that Bitcoin’s ongoing surge is not linked to the CLARITY Act, but entirely linked to the Treasury Department’s announcement that it would double its long-term bond buybacks.
Traders immediately read the move as inflationary and bullish for hard assets, sending yields lower and the dollar index lower.
“It is reigniting these fears of fiscal dominance,” Sigel said. “As the Treasury finances more of that debt on the short end, it hits the fiscal balance immediately. It makes keeping rates high increasingly expensive.”
